Vanguard Group Inc. Sells 388,403 Shares of Zions Bancorporation, N.A. $ZION

Key Points

• Vanguard trimmed its stake in Zions by 2.1% in Q4, selling 388,403 shares and now owns 18,404,397 shares (12.47%) valued at about $1.077 billion.
• Zions reported quarterly EPS of $1.56 versus a $1.43 consensus (a beat), with revenue of $849M (slightly below estimates) and a return on equity of 13.9%.
• Analysts have a consensus rating of "Hold" with an average price target of $65.53; the stock trades at a P/E of 9.84 and a market cap near $9.3 billion.

Vanguard Group Inc. trimmed its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,404,397 shares of the bank's stock after selling 388,403 shares during the quarter. Vanguard Group Inc. owned 12.47% of Zions Bancorporation, N.A. worth $1,077,393,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Community Bank N.A. bought a new stake in shares of Zions Bancorporation, N.A. during the third quarter worth $36,000. Salomon & Ludwin LLC bought a new stake in shares of Zions Bancorporation, N.A. during the third quarter worth $37,000. V Square Quantitative Management LLC bought a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter worth $42,000. Quent Capital LLC bought a new stake in shares of Zions Bancorporation, N.A. during the third quarter worth $45,000. Finally, SJS Investment Consulting Inc. lifted its position in shares of Zions Bancorporation, N.A. by 3,950.0% during the third quarter. SJS Investment Consulting Inc. now owns 810 shares of the bank's stock worth $46,000 after purchasing an additional 790 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ZION shares. Barclays lifted their target price on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 22nd. Robert W. Baird lifted their target price on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 21st. Royal Bank Of Canada lifted their price objective on Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the company a "sector perform" rating in a report on Tuesday, April 21st. Brean Capital started coverage on Zions Bancorporation, N.A. in a report on Thursday, March 12th. They issued a "neutral" rating for the company. Finally, Citigroup lifted their price objective on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a "neutral" rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $65.53.

Zions Bancorporation, N.A. Stock Performance

ZION stock opened at $63.26 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.83 and a quick ratio of 0.83. The business has a 50-day moving average price of $58.67 and a 200 day moving average price of $57.45. The company has a market capitalization of $9.30 billion, a P/E ratio of 9.84, a PEG ratio of 2.19 and a beta of 0.83. Zions Bancorporation, N.A. has a 1-year low of $45.24 and a 1-year high of $66.18.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The firm had revenue of $849.00 million during the quarter, compared to the consensus estimate of $853.73 million. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.During the same period in the previous year, the company posted $1.13 earnings per share. As a group, equities research analysts forecast that Zions Bancorporation, N.A. will post 6.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Steven Dan Stephens sold 15,476 shares of the business's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $65.90, for a total value of $1,019,868.40. Following the completion of the transaction, the executive vice president directly owned 41,127 shares in the company, valued at approximately $2,710,269.30. The trade was a 27.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Harris H. Simmons bought 4,500 shares of Zions Bancorporation, N.A. stock in a transaction on Tuesday, February 24th. The stock was purchased at an average price of $59.03 per share, with a total value of $265,635.00. Following the completion of the acquisition, the chief executive officer directly owned 1,317,493 shares of the company's stock, valued at $77,771,611.79. This represents a 0.34% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 55,581 shares of company stock valued at $3,498,774 in the last three months. 1.43% of the stock is currently owned by insiders.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company's commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.

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